Stocks rebound in Europe and Asia and US index futures rise

Dubai: Stocks rebounded in Europe and Asia and US index futures rose after International Business Machines Corp. reaffirmed its profit forecast and investors speculated the worst five-day rout since 1987 was overdone. IBM, the world's biggest computer-services company, jumped 6.2 per cent in Germany after earnings topped analysts' estimates. Cap Gemini SA, Europe's largest computer-services company, rallied 4.3 per cent. BHP Billiton Ltd. led mining shares higher, jumping 4 per cent as metals gained in London. Industrial & Commercial Bank of China Ltd. surged 6.1 per cent and South Korea's LG Electronics Inc. climbed 4.9 per cent. The MSCI World Index added 0.9 per cent to 1,012.24 at 8:45 a.m. in London. The index slumped 15 per cent in the previous five days, the biggest drop since October 1987. Standard & Poor's 500 Index... [read full story]